Corient Private Wealth LP purchased a new position in Exelixis, Inc. (NASDAQ:EXEL – Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 79,467 shares of the biotechnology company’s stock, valued at approximately $4,324,000.
Other institutional investors have also added to or reduced their stakes in the company. Motiv8 Investments LLC bought a new position in shares of Exelixis during the fourth quarter valued at about $26,000. Cassaday & Co Wealth Management LLC bought a new stake in shares of Exelixis in the 1st quarter valued at about $27,000. Acumen Wealth Advisors LLC purchased a new stake in Exelixis during the 4th quarter valued at about $29,000. Western Wealth Management LLC purchased a new stake in Exelixis during the 1st quarter valued at about $29,000. Finally, Northwestern Mutual Wealth Management Co. grew its position in Exelixis by 1,380.4% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 829 shares of the biotechnology company’s stock worth $34,000 after acquiring an additional 773 shares during the last quarter. 85.27% of the stock is currently owned by hedge funds and other institutional investors.
Exelixis Price Performance
Shares of NASDAQ:EXEL opened at $54.64 on Tuesday. Exelixis, Inc. has a 1 year low of $33.76 and a 1 year high of $57.57. The company has a market cap of $13.54 billion, a PE ratio of 17.18, a P/E/G ratio of 1.62 and a beta of 0.44. The stock’s 50-day moving average is $54.64 and its 200 day moving average is $49.12.
Analyst Ratings Changes
EXEL has been the topic of a number of analyst reports. Leerink Partners cut Exelixis from an “outperform” rating to a “market perform” rating and set a $52.00 price target on the stock. in a research note on Thursday, August 6th. Truist Financial cut their target price on shares of Exelixis from $56.00 to $52.00 and set a “hold” rating on the stock in a report on Thursday, August 6th. Barclays lifted their target price on shares of Exelixis from $45.00 to $49.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 14th. Stifel Nicolaus upped their price target on shares of Exelixis from $47.00 to $51.00 and gave the company a “hold” rating in a report on Thursday, August 6th. Finally, Weiss Ratings raised shares of Exelixis from a “buy (b)” rating to a “buy (a-)” rating in a research report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $50.07.
Get Our Latest Stock Analysis on Exelixis
Insider Activity at Exelixis
In related news, Director Mary C. Beckerle sold 9,812 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $53.66, for a total transaction of $526,511.92. Following the completion of the transaction, the director owned 16,079 shares in the company, valued at $862,799.14. This represents a 37.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.60% of the stock is currently owned by corporate insiders.
Exelixis Company Profile
Exelixis, Inc is a biotechnology company specializing in the discovery, development and commercialization of small molecule therapies primarily for the treatment of cancer. Building on a platform that leverages model organism genetics and high-throughput screening, the company focuses its research on kinase inhibitors that modulate critical signaling pathways involved in tumor growth and metastasis. Exelixis’s translational research approach aims to advance novel compounds from early-stage discovery through clinical development and regulatory approval.
The company’s most recognized products include CABOMETYX® (cabozantinib), approved for the treatment of advanced renal cell carcinoma and hepatocellular carcinoma, and COMETRIQ® (cabozantinib) for metastatic medullary thyroid cancer.
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